Raising Money for Telecommunications Resellers

With these bank loans for telecommunications resellers, the SBA guarantees the lender that the loan will be repaid. This telecommunications resellers loan for $739,000 was given to a California entrepreneur in 2001.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Cit Small Business Lending Corp, out of Livingston, New Jersey. The loan was granted and they received $739,000 to help grow their Tarzana, California business.

SBA Loan Borrower

COMPANY TYPE: TELECOMMUNICATIONS RESELLERS
TARZANA, CA 91357

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

513330 - Telecommunications Resellers

Loan Approval Date

12/13/2001

Loan Approval Gross Amount

$739,000

Loan Approval from the SBA

Of the total $739,000 loan amount, the SBA guaranteed $554,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

If you are raising money in Tarzana CA, you ought to talk with a local Tarzana SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Tarzana businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Bank Credit Lines

Good Banks for Small Business in Livingston, New Jersey

New Jersey SBA 7A Banks